Bellanca,

Check the thread about logging Multi-time because it may pertain to your situation vis-a-vis FAA regs about logging time. What we figured out is when your sole manipulator of the Jet you can log PIC (Primary time). I flew 141's and C-17's and even as a brand new guy, we usually split the total time between the pilots and everybody got some primary some secondary time. I understand as a STUD you may think there could be an issue logging Primary time. Your best solution is ask your IP how he's logging your time. My guess is if you and another STUD are flying a 4 hr sortie, your IP is logging 2.0 for you, 2.0 for the other STUD, and he's logging 4.0 IP time..that was how we did it..
BTW, I never kept a log book in 28 years in the Air Force, believe it or not the Air Force did a good job logging my time. Of course after a few years in a 141, my time was never an issue....we flew a lot!